US retail sales and industrial production reports for May are the highlights on the macro news calendar Tuesday. Both are expected to show relative weakness.

The consensus forecast looks for retail sales down 0.6 percent with sales excluding autos up 0.2 percent. That would follow a 0.1 percent increase in April for total sales and sales ex-autos. Industrial production is seen up 0.1 percent after no change in April. Forecasters see capacity utilization flat at a soft 77.7 percent.

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.